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What is the difference between a movement along and a shift of the demand curve? What is the effect on the equilibrium price and quantity that results from an increase in demand, supply, and both? Provide examples for each instance. What is the role of supply and demand in decision making? Provide a real-world example.
Calculate the long-run equilibrium values of r and P, assuming that the potentiallevel of output (Y*) is equal to 3500 monetary units.
Utilizing fully explained indifference curve analysis, derive a demand curve for a product.
1.) Suppose Bob owns a pizza place in a competitive market. If an additional worker will cost Bob $200 and offers marginal productivity of 40 pizzas, what is the marginal cost of producing a pizza? Show your work and explain your reasoning.
Utilizing an aggregate supply and aggregate demand diagram, show why this self-correcting process involves only temporary periods of inflation or deflation.
Why is the Gross Domestic Product important to policy makers and the ordinary civilian?
Grapg a series of isoquants for the production function q=10, 15,20. Plot at least 5 points for each isoquant by assuring value for q and then a value for L and solving for the remaining value of K to get the needed level of q.
Domestic producer and government are the ones who gains when implementing tariff. Why government gains when tariff is implemented?
When on leave, workers receive 55 percent of their normal pay. What are the likely responses on the demand (employer) side of the labor market? Include in your analysis a consideration of factors that would affect the size of these responses.
Raj's Utility bundles of X and Y is given by U(X,Y)=XY A. Fill in the table with Raj's utility for the corresponding bundles x=1 x=2 x=3 ,y=1 ,y=2 ,y=3 B. Wri..
For the term paper, you are required to pick a current economic topic that relates to the material we have covered or will cover in this course. You will research and find an article that covers the topic you have chosen.
At $300, a total of 10,000 ounces of output is profitable. Similarly, total production increases by 5000 ounces for each sucessive $100 increase in the price of gold. Describe the relevant relationship between the price of gold and the production ..
Where does the worker choose to work? Suppose the government regulated the workplace and required all jobs to have a risk factor of 1/5 (that is, all jobs become A jobs). What wage would the worker now need to earn in the A job to be equally happy..
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